Prospect Info Solution - LLP

09/01/2020

09/01/2020

Billing Machines for every need

09/01/2020

Billing Solution for Restaurants

01/11/2019

18/10/2018

WISH YOU ALL A VERY HAPPY VIJAYADASHAMI...

10/10/2018

SOME USEFUL EXCEL SHORTCUTS YOU SHOULD KNOW -

22/09/2018

GET THE SIMPLIFIED SOFTWARE FOR MAINTAINING YOUR PAYROLL WITH HR XPERT - BEST PAYROLL SOFTWARE..

10/09/2018

How to find any Mismatches in your ITC???
Here you can do -

Identify mismatches in input tax credit claimed....

1. Download GSTR-2A JSON file of the required tax period from the GST portal .

2. Go to Gateway of Tally > Display > Statutory Reports > GST > GSTR-2 .

Note: Ensure that you use Tally. ERP 9 Release 6.2 or later versions.

3. Select the period as per the GSTR-2A JSON file.

4. Click L : Load File and load the GSTR-2A JSON file only for comparison. The following message appears, asking to reconcile the invoice status.



5. Click No to load the file only for comparison.

Note: If you press Yes , the invoice status will be reconciled as Status Updated and displayed as New . To clear the status:

♦ Click A : View Status-wise .

♦ Press Enter on the relevant status that are updated.

♦ Press Ctrl+Spacebar to select all the invoices.

♦ Click R : Clear Status > Yes .

6. The details are compared and indicated in:

● Blue for details as per the downloaded GSTR-2A JSON file. This includes the details of invoices submitted by the supplier, and the invoices that you have manually uploaded on the portal.

● Black for details of invoices As per books .


7. Click A : View Status-wise .


Fully matched displays transactions that fully match with the records on the portal.

8. Select Partially Matched > press Enter > click F1 : Detailed .

9. Check the invoices, take the required actions if need be, or inform the counterparty to upload the appropriate details of the invoices.

10. Select Available Only in Books > press Enter > click F1 : Detailed .

11. Check the invoices, and inform the counterparty about the unavailability of invoices.

12. Select Available Only in Portal and press Enter . Click F1 : Detailed . Check the invoices, and record the appropriate entry in the current return period.

Note: If there are amendments done by the counterparty in GSTR-1 , then the same is reflected in your GSTR-2A. These invoices may not be available in your books. Check your book information across return periods for further action.

Based on the differences observed, you or your counterparty can record appropriate entries in the current return period, to correct the books.

To avoid mismatches in input tax credit as per books and GSTR-2A, you can download and compare GSTR-2A to match the details of input tax credit for the previous and upcoming return periods. This helps to ensure correctness of input tax credit claimed.

07/09/2018

In GST What type of Records are to be maintained?

The registered person is required to maintain the true, accurate and fair accounts and records off the following at his principal place of business-

(a) Production or Manufacture of goods;

(b) Inward and Outward supply of goods or services or both;

(c) Stock of goods;

(d) Input tax credit availed;

(e) Output tax payable and paid; and

(f) Such other particulars as may be prescribed

In addition to this, Rule 56 of the CGST Rules 2017 requires maintenance of following records also-

– goods or services imported or exported

– supplies attracting payment of tax on reverse charge

– invoices, bills of supply, delivery challans

– credit notes, debit notes

– receipt vouchers, payment vouchers and refund vouchers

For more information call us - 9953023322
E-mail - [email protected]